I'm trying to understand the concept of opportunity cost and how it relates to regret. Are they the same thing, or are there differences between the two? I want to know if opportunity cost always leads to regret, or if they can be separate.
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answers
CryptoElite
Sun Jan 26 2025
Psychological factors can play a significant role in the process of making choices.
CryptoVeteran
Sat Jan 25 2025
One such factor is the concept of Psychological Opportunity Cost (POC), which relates to the emotions associated with choosing one option over another.
JejuSunrise
Sat Jan 25 2025
In essence, POC captures the psychological impact of not selecting an alternative that might have been equally or more desirable.
Raffaele
Sat Jan 25 2025
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Caterina
Sat Jan 25 2025
The experience of POC is distinct from regret, which typically arises after a decision has been made.